Allcargo Terminals Q2 Results: Net Profit Surges 85% YoY to ₹20.9 Crore as Margins Expand

Key numbers

Market Cap	₹633.02 CrSmall Cap
P/E TTM	15.26xSector 31.07x
Promoter Holding	67.17%No Pledge
RSI	44.85Neutral Zone

Key highlights

• Consolidated revenue from operations climbed to ₹252 crore, up 17.7% from ₹214 crore in Q1 FY27
• Net profit reached ₹20.9 crore, marking an 85.0% growth compared to ₹11.3 crore in the year-ago period
• Operating margins expanded to 10.7%, a notable rise from 6.3% in the preceding June quarter
• Profit Before Tax doubled sequentially to ₹27.3 crore from ₹13.6 crore in Q1 FY27
• The company acquired a 25% stake in Allcargo Group Services Private Limited during the quarter

Operational Performance and Margin Recovery

Allcargo Terminals delivered a robust sequential performance in Q2 FY27, with revenue climbing to ₹252 crore from ₹214 crore in the previous quarter. This growth was accompanied by a significant expansion in operating margins, which improved from 6.3% to 10.7%. The net profit growth was even more pronounced, jumping 226.6% quarter-on-quarter to ₹20.9 crore.

This performance aligns with the company's long-term strategy to expand container handling capacity to 1,000,000 TEUs, as previously guided. The improved profitability reflects better asset utilisation within its Container Freight Stations segment, which remains the company's primary reportable business unit.

Capital Structure and Rights Issue Updates

• The company had issued 3.97 crore partly paid-up equity shares at ₹20 per share via a rights issue
• As of September 30, 2026, the company has received ₹5 per share on application for these shares
• The Board approved making subsequent calls on the balance amount at an appropriate time
• Proceeds from rights issue are being monitored by CRISIL Ratings Limited as the appointed agency
• Earnings per share for previous periods have been restated to account for the bonus element in the rights issue

Strategic Acquisitions and Tax Litigation

During the quarter, Allcargo Terminals acquired a 25% stake in Allcargo Group Services Private Limited (AGSPL) for a nominal consideration, subsequently subscribing to a rights issue of the same entity for ₹1.06 crore. On the regulatory front, the company continues to manage significant tax demands. It has filed an appeal with the Commissioner of Income Tax against an assessment order demanding ₹49.13 crore.

Additionally, the company is contesting a GST demand of ₹25.29 crore plus penalties before the Madras High Court, which has granted an interim stay on the proceedings. No provision has been deemed necessary for the GST matter based on management's assessment.

Board Updates on Capital Calls

The Board, at its meeting held today, approved that the Company shall, at the appropriate time as determined by the Board, make the subsequent call on the partly paid-up equity shares in accordance with the applicable provisions of SEBI ICDR Regulations.

What to watch next

• Announcement of dates for the subsequent call on partly paid-up rights shares
• Outcome of the earnings conference call scheduled for November 5, 2026
• Resolution of the ₹49.13 crore tax appeal currently with the Commissioner of Income Tax
• Updates on the ₹400 crore capex program intended to increase market share to 15%

Allcargo Terminals · financial snapshot

Share price	₹24.16
Market capitalisation	₹633.02 Cr
Revenue (annual)	₹820.80 Cr
Net profit (annual)	₹44.21 Cr
Revenue (latest quarter)	₹214.41 Cr+3.06% vs previous quarter
Net profit (latest quarter)	₹6.37 Cr-27.37% vs previous quarter
P/E (TTM)	15.26×Sector 31.07×
Promoter holding	67.17%0.00% QoQ
FII holding	5.36%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.